Students reneging on ED acceptances more than in past?

bennty
Wed, 19 Jan 2022 15:05:20 +0000

Remember where I said above that ED collects two kinds of people?

1. Those who can afford the table: the criminally wealthy.

2. Those who can’t afford it but are there anyway.

If you’re straining that hard to get to that kind of balance, you can’t afford the table.

Consider: your kid is a nice, smart kid. You’re a hardworking person who makes your money legit. You’ve knocked yourself out for your only kid and amassed $300K (say) by the time the kid hits 17. It’s most of what you’ve got besides your retirement, more or less.

What is the future value of the money if you put $200K of that away for the kid?
What’s it worth when the kid is 30, 40, 50, 60?

If that kid, whom we all agree is nice and smart and can take good advantage of what any school’s got to offer, goes to a school that costs $100K full freight, how does that affect their life afterwards vs. going to $80K/yr school?